Courtesy: The Business Standard
Discrimination faced by Mumbaikars...
If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.
Sunday, February 09, 2014
Gold imports hit a 6-month high in January
Recovery is attributed to higher domestic demand, export orders and import by NRIs
Mumbai, February 8, 2014:Gold Imports have started showing some revival. In January, a peak-demand month owing to the wedding season, imports were estimated at nearly 40 tonnes -- the highest in six months. In the preceding month, about 20 tonnes of gold was imported. Year-on-year, however, the January figure is about 50 per cent lower.
The recovery is attributable to a rise in domestic demand, export orders and imports by non-resident Indians who are allowed to bring up to 1 kg gold by paying 10.3 per cent duty. Direct import of jewellery is also estimated to have risen in the last couple of months.
T S Kalyanaraman, CMD, Kalyan Jewellers, says, “January is a month of high gold buying due to the wedding season, so the demand has been higher than in previous months. However, it is still only about half compared to a year ago.”
The increase in imports has also resulted in a fall in the premiums quoted in the physical market. Premiums have halved to $70 an ounce, which works out to about 3 per cent. Direct import of jewellery has been emerging as a trend in the jewellery business as it is cheaper trouble-free alternative to import of gold, which entails paying import duties, physical market premiums and manufacturing expenses. Cost of imported jewellery is 17.5 per cent higher on average.
“Several organised jewellers have started setting up manufacturing facilities in West Asia, especially in Dubai. They also import jewellery for the Indian market from overseas facilities. This trend is harmful to domestic artisans, many of whom are going jobless,” says Kalyanaraman.
In the September quarter, gold imports stood at 70 tonnes while in the December quarter the figure was 51 tonnes. A revival in the first month of the March quarter and the possibility of imports sustaining at a higher level in the remaining months could put pressure on the country's current account, which may end up with a deficit higher than estimated earlier. February usually sees high gold demand in north India.
An industry official in Mumbai says there has been good demand from jewellery exporters in recent days. Compared to an average three-four tonnes a month in the December quarter, value-added exports were estimated at nearly nine tonnes in January, which also contributed to the increase in gold imports.
Courtesy: The Business Standard